The analysis, conducted on August 13th, examines BTCUSDT, trading at $121,600, and suggests potential upward movement to $123,500-$125,000 contingent on maintaining levels above $120,800 based on the daily time frame. Analysis shows over the past day shorts have been decimated and longs have piled on, indicating a bullish sentiment. The Shorts are down to 2B and the Longs are up to 3.4B. The analyst discusses potential retracement levels, and potential lower movement to $117,000-$115,000. The one-hour MACD, stochastic, and RSI indicators display bullish signals with volume being in line. The analyst specifies a failure zone should price closes one hour below $120,700.